Q3 2025 Penumbra Inc Earnings Call Transcript

Nov 5, 2025 / 09:30 PM GMT

Release Date Price: $225.54 (-4.06%)

Transcript 10-Q8-K

Key Points

Positve

Penumbra Inc (PEN) reported a strong year-over-year revenue growth of 17.8% on a reported basis and 16.9% on a constant currency basis.
The company's US revenue increased by 21.5%, driven by significant growth in thrombectomy and embolization sales.
Penumbra Inc (PEN) achieved a gross margin expansion of 130 basis points, reaching 67.8%, with expectations to exceed 70% by the end of 2026.
The company successfully launched new products, Lightning Bolt 16 and Lightning Flash 3.0, enhancing its competitive position in the market.
Penumbra Inc (PEN) raised its revenue guidance for the year, reflecting confidence in continued growth and market expansion.

Negative

International revenue growth was modest at 6.6% year-over-year, with only a 3% increase in constant currency, partly due to ongoing challenges in China.
The neurovascular business faced a slight decline in the US stroke market, impacting overall growth in that segment.
Operating expenses increased, with SG&A expenses rising to 47.6% of revenue, reflecting investments in sales team expansion.
The company faces ongoing regulatory challenges, with the FDA review process for new products like Thunderbolt taking longer than anticipated.
Despite strong growth, the guidance for Q4 suggests a potential deceleration compared to previous quarters, raising concerns about sustaining momentum.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PEN.N - Penumbra Inc
Q3 2025 Penumbra Inc Earnings Call
Nov 05, 2025 / 09:30PM GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Gentlemen, good afternoon.

My name is Abby, your conference operator today.

At this time, I would like to welcome everyone to Penumbra's third quarter 2025 conference call.

All lines have been placed on mute to prevent any background noise.

After the speaker's remarks, there will be a question-and-answer session.

If you would like to ask a question during that time, simply pressar followed by the number one on your telephone keypad.

If you would like to withdraw your question, press 1 a second time.

Thank you, and I would now like to introduce Miss Cecilia Furlong, Business development and investor relations for Penumbra.

Miss.

Verloc, you may begin your conference

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

30-Day 100% money back guarantee

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.